Attach to Form 990 or 990-EZ.
Information about Schedule O (Form 990 or 990-EZ) and its instructions is at| Return Reference | Explanation |
|---|---|
| Unrelated business income explanation Part V line 3b | Form 8868 requesting an automatic 6 month extension to file our December 31, 2015 Form 990-T was mailed to IRS on May 13, 2016. |
| Management duties delegation Part VI line 3 | Management of day to day operations of the organization are performed under a management agreement with Bald Head Island, Ltd. |
| Organizational document changes Part VI line 4 | On June 16, 2015 a Declaration of Condominium was filed converting membership based organization to a Condominium based organization with common areas and individually owned units. Members in the Bald Head Island Yacht Club were issued deeds for their individual units, making them owners of real property. |
| Members or stockholder classes and rights Part VI line 6 | Bald Head Island Yacht Club is a nonprofit corporation with members. |
| Member election for additional members Part VI line 7a | There are currently 174 memberships who elect one or more members of the governing body. |
| Governing body decisions Part VI line 7b | The members approve assessments not related to regular maintenance, and changes to Bylaws. |
| Form 990 governing body review Part VI line 11 | Form 990 is reviewed by the manager of the Bald Head Island Marina, and by Joyce C. Fulton, Secretary/Treasurer of the Bald Head Island Yacht Club. |
| Governing documents etc available to public Part VI line 19 | Governing documents and financials are provided to applicants for membership, and mailed or given to members at least annually. Financials are reviewed by the Board at least three times annually. |
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